821 South Wilton Place

Los Angeles, CA 90005

$3,985,000
Price
1
Beds
21
Baths
10,786 Sq. Ft.
$369 / Sq. Ft.
10,786
Sq. Ft.
$369
per Sq. Ft.

Description

We are pleased to present 821 S Wilton Place, a Character French Normandy style 2-story, 20-unit value-add multi-family investment opportunity with 27%+ rental upside potential, located in the highly desirable Hancock Park adjacent submarket of Los Angeles, just west of Western Ave and south of Wilshire Blvd. Built in 1938, the building is comprised of 19 studios and 1 (1+1) units that average approximately 540+ gross square feet. Additionally, there are two non-conforming/bonus units in the basement,...We are pleased to present 821 S Wilton Place, a Character French Normandy style 2-story, 20-unit value-add multi-family investment opportunity with 27%+ rental upside potential, located in the highly desirable Hancock Park adjacent submarket of Los Angeles, just west of Western Ave and south of Wilshire Blvd. Built in 1938, the building is comprised of 19 studios and 1 (1+1) units that average approximately 540+ gross square feet. Additionally, there are two non-conforming/bonus units in the basement, affording an investor the flexibility to capitalize on the potential addition of accessory dwelling units (ADU). The 10,786 square foot structure is situated on an 8,999 square foot LAR3 zoned lot. The property includes a rear backyard featuring mature pine trees, providing ample shade to this outdoor common area. There are 10 individual parking spots (with space to add bicycle and motorcycle parking) in the garage located below the building. The building's units feature large windows and include much of the original, colorful tile in the bathroom's stall showers and floor, and 11 of the units maintain hardwood flooring throughout. The property is separately metered for gas and electric, and there is a common area laundry room and master water heater in the basement. With a Walk Score of 84, the property's Hancock Park adjacent location, near the Wilshire Blvd and Western Ave intersection and 0.6 miles from the Wilshire/Western Metro Station, offers residents easy access to the countless shopping, dining, entertainment, and recreation options of Koreatown, Larchmont Village, Wilshire Center, Mid-Wilshire, and the revitalized Downtown Los Angeles less than 4 miles to the east. The building is 1.35 miles north of the 10 freeway, 2 miles south of the 2 and 101, and 3 miles northwest of the 110. 821 S Wilton Pl is well-positioned for a skilled value-add investor to implement a high-end unit/common area renovation program optimizing market rents, appreciation, and future returns.
  1. Listed by Matthew R. Kanner • DRE #01349203 • Brokerage DRE #01269474 • Keller Williams Realty Los Feliz

Property Details for 821 South Wilton Place

Zoning
LAR3
Style
French Normandy
Parcel Number
5092012004
Total Units
20.0
Living Area
10786
Source Living Area
Assessor
Area
Hancock Park-Wilshire
Vacancy Rate
None

Location

Listing Courtesy of Keller Williams Realty Los Feliz, Matthew R. Kanner, DRE #01349203
Add your commute
LISTING UPDATED: 04/22/2024 09:00 AM

Property Details for 821 South Wilton Place

StatusActive
MLS #23-265294
Days on Market374
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1938
Lot Size0.21 AC / 8,999 SF
CountyLos Angeles County

Location

Listing Courtesy of Keller Williams Realty Los Feliz, Matthew R. Kanner, DRE #01349203
Add your commute

Building Information for 821 South Wilton Place

Stories2Residences-Year Built1938Building Size-Lot Size0.21 AC / 8,999 SF

Payment Calculator

$23,041 per month

30 year fixed, 7.25% Interest

Principal and Interest

$21,748

Property Taxes

$1,293

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 821 South Wilton Place

Community / Development
Community / Development
  • Number Of Units: 20
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: 0+1, 1+1
Contract Info
Contract Info
  • Financing: Owner Carried
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $319,336
  • Net Operating Income: $210,245.00
  • Gross Income: $328,980
  • Cap Rate: 5.28%
  • Gross Rent Multiplier: $12.11
  • Total Annual Expense: 109091
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.2066
  • Lot Size Square Feet: 8999
  • Lot Size Dimensions: 60x150
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: Garage, Gated Underground
  • Total Parking: 10
  • Garage Spaces Total: 10
  • Parking Features: Garage
Interior Features
Interior Features
  • Levels: Two
  • Cooling: None
  • Cooling Type: None
  • Heating Type: Wall Gas
  • Equipment: Freezer, Refrigerator, Range/Oven
  • Laundry: Community, Garage
  • Laundry Equipment: Own
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 04-28-2023
  • Rent Control: Yes
  • Rent Control: 100
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,341.00
  • Unit Actual Rent: $25,475.00
  • Unit Projected Rent: $32,375.00
  • Like Units: 19
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,315.00
  • Unit Actual Rent: $1,315.00
  • Unit Projected Rent: $2,000.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $478,339.00
  • Assessed Improvement Percent: 42.45
  • Assessed Land Value: $648,521.00
  • Assessed Land Percent: 57.55
  • Assessed Total Value: $1,126,860.00

Property History for 821 South Wilton Place

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 821 South Wilton Place

Taxable ValueLand$661,491Additions$491,805Total$1,153,296
Tax Record2023$15,512 ($1,293 / month)
Home Facts
Total Finished SqFt10,786 SqFtAbove Grade Finished SqFt10,786 SqFtLot Size8,999 SqFtStyleMulti-Family Res (5+ Units)Year Built1938ZoningLAR3CountyLOS ANGELESAPN5092-012-004

Schools near 821 South Wilton Place

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Charter - 6 to 8
Public - 9 to 12
Charter - 6 to 8
Rating
School
Distance
Wilton Place Elementary School
PublicK to 5

Magnolia Science Academy 6 School
Charter6 to 8

Los Angeles Senior High School
Public9 to 12

Global Education Academy Middle School
Charter6 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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821 South Wilton Place is a multi-family home for sale in Los Angeles, CA 90005. This property was listed for sale on April 28, 2023 by Keller Williams Realty Los Feliz, it's currently listed at $3,985,000. This listing's school district is Los Angeles Unified School District. Nearby schools include Wilton Place Elementary School, Magnolia Science Academy 6 School and Los Angeles Senior High School. 821 South Wilton Place is a 1-bed, 21-bath, 10,786 sqft multi-family home built in 1938.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Keller Williams Realty Los Feliz, Matthew R. Kanner, DRE #01349203

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.